Crude oil steadies after falling on rate hike worries, Russian crude flows
时间:2024-09-29 02:15:51 阅读(143)
Oil prices steadied in early Asian trade on Tuesday after falling by more than 2% in the previous session on the threat of further interest rate hikes and continued Russian crude flows. Brent crude futures gained 28 cents to $85.18 per barrel by 0155 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 9 cents to $77.99.
Investors expect the U.S. Federal Reserve will hike interest rates by 25 basis points on Wednesday, with a half-point increase by the Bank of England and European Central Bank the following day. Higher rates could slow the global economy and weaken oil demand.
OPEC+ agreed in October to cut its production target by 2 million barrels per day (bpd), about 2% of world demand, from November until the end of 2023. Russia continues to supply the global market with its oil despite a European Union ban and G7 price cap imposed over its invasion of Ukraine, which pressured prices.
Lending some support to oil prices, the U.S. dollar index has fallen by 1.3% in January so far. A weaker dollar makes crude less expensive for non-U.S. buyers.
猜你喜欢
- Petrol and diesel price May 9- Fuel cost still unchanged; Check prices in Delhi, Mumbai, other cities here
- NSE Bulk deals, July 20- Reliance Infra, Amara Raja, Bajaj Hind, other major deals that took place on Thursday
- Electronics Mart IPO subscribed 72x on final day
- European shares slide, euro steady as data tees up ECB rate hikes
- Petrol and Diesel Rate Today, 9 December- Fuel prices unchanged; Check rates in Delhi, Mumbai, other cities
- Oil prices steady on US dollar weakness; recession fears weigh
- Petrol and Diesel Rate Today, 13 December- Fuel prices steady; Check rates in Delhi, Mumbai, other cities
- North Korea fired more than 60 coastal artillery rounds on Sat – South Korea
- Oil Prices caught in seesaw battle between interest rates and geopolitical conflicts